GBPUSD Market Analysis

The GBPUSD pair fluctuates around 1.2250 level since confirming breaking 1.2339 level, noticing that the EMA50 and stochastic provide negative signals, which supports the continuation of our bearish trend expectations for the upcoming period, as we believe that the way is open to head towards heading to our next main target at 1.1997.

Therefore, we are waiting for more decline on the intraday and short term basis conditioned by the price stability below 1.2339, as breaching this level represents positive factor that will push the price to test 1.2550 areas again before any new attempt to decline.

Expected trading range for today is between 1.2150 support and 1.2339 resistance.

The GBPUSD pair trades negatively now to start testing last week recorded low at 1.2227, motivated by stochastic negativity that appears on the four hours' time frame, waiting to surpass 1.2200 barrier to ease the mission of heading towards our next main target at 1.1997.

Therefore, our bearish overview will remain active for the rest of the day unless breaching 1.2339 level and holding above it.

Expected trading range for today is between 1.2150 support and 1.2339 resistance.

The GBPUSD pair provides some slight positive trading to move around 1.2250, and as long as the price is below 1.2339, the bearish trend scenario will remain active for today, supported by the EMA50 besides stochastic reach to the overbought areas.

Therefore, we are waiting for negative trading for the rest of the day, noting that breaking 1.2200 level will provide more support to our bearish trend expectations.

Expected trading range for today is between 1.2120 support and 1.2500 resistance.

The GBPUSD pair is testing the EMA50 that continues to form good resistance barrier against the price, which protects the recently suggested bearish trend scenario, depending on the stability below 1.2339, waiting to resume the bearish bias in the upcoming sessions.

Therefore, the bearish bias will remain suggested for today, waiting to break 1.2200 level to ease the mission of heading towards our main target at 1.1997.

Expected trading range for today is between 1.2150 support and 1.2350 resistance.

The GBPUSD pair showed negative attempt this morning and returns to fluctuate around the EMA50 settling below it, thus, the bearish trend scenario still active until now, noticing that stochastic loses its bullish momentum clearly to reach the thresholds of the overbought areas, reinforcing the expectations to decline.

Therefore, we are waiting for more negative trading for the rest of the day, and the targets begin by breaking 1.2200 level to open the way to head towards 1.1997, reminding you that it is important to hold below 1.2339 to achieve the suggested targets.

Expected trading range for today is between 1.2180 support and 1.2370 resistance.

The GBPUSD pair provided some positive trading to approach from testing the minor bearish channel's resistance that appears on image, and as long as the price is below 1.2339, our bearish trend expectations will remain active for today, as breaching this level represents the key to rally towards 1.2550 direct.

Therefore, we are waiting for negative trading for the rest of the day, reminding you that our main waited target is located at 1.1997.

Expected trading range for today is between 1.2100 support and 1.2339 resistance.

The GBPUSD pair bounced clearly to the downside after testing 1.2339 level, and stochastic continues to provide the negative signals on the four hours' time frame, which keeps the bearish trend scenario valid efficiently for today, waiting to break 1.2200 level to ease the mission of heading towards 1.1997 that represents the next main target of the current bearish wave.

Therefore, we are waiting for more negative trading in the upcoming sessions conditioned by the price stability below 1.2339.

Expected trading range for today is between 1.2200 support and 1.2400 resistance.

The GBPUSD pair shows slight bearish bias approaching from retesting the support base that formed above 1.2339 level after breaching it previously, which meets the EMA50 to strengthen it.

As long as the price above the mentioned level, so our bullish trend expectations will remain valid and active for today, waiting for testing 1.2550 level mainly, pointing that breaking 1.2339 will put the price under negative pressure again, and the negative targets begin at 1.2205 and extend to 1.1997.

Expected trading range for today is between 1.2300 support and 1.2500 resistance.

The GBPUSD pair achieved a strong break to 1.2200 level and settled below it, activating the bearish trend scenario that its next main target located at 1.1997, opening the way towards the continuation of the decline in the upcoming sessions.

Therefore, the bearish bias will be preferred for the rest of the day supported by the negative pressure that comes from the EMA50, pointing that breaching 1.2200 level will stop the expected decline and pushes the price to recovery attempts that its targets begin at 1.2339 and extend to 1.2550.

Expected trading range for today is between 1.2060 support and 1.2200 resistance.

The GBPUSD pair continues to rise to move away from 1.2400 barrier, to support the continuation of our bullish overview that its next target located at 1.2550, which gets good positive support by the EMA50.

In general, the bullish bias will remain active for today unless breaking 1.2339 level and holding below it, as breaking this level will push the price to visit 1.2210 areas before any new attempt to rise.

Expected trading range for today is between 1.2339 support and 1.2550 resistance.

The GBPUSD pair showed negative trading this morning to approach from retesting the previously breached neckline of the bullish pattern that appears on the above chart, while the EMA50 keeps providing the positive support to the price.

Therefore, the bullish trend scenario will remain active until now unless breaking 1.2405 followed by 1.2339 levels and holding below it, noting that we need to breach 1.2550 level to confirm opening the way to head towards 1.2720 that represents the next main target.

Expected trading range for today is between 1.2450 support and 1.2650 resistance.

The GBPUSD pair succeeded to breach 1.2550 level and closed the last four hours candlestick above it, which supports the continuation of the bullish trend scenario efficiently on the intraday and short term basis, opening the way towards heading to 1.2720 that represents the next main target, pushing the price out of the bearish channel that confines the trading since the last year.

Therefore, we will keep preferring the bullish trend for the rest of the day conditioned by holding above 1.2550 – 1.2525 levels, where breaking these levels represents negative factor that will push the price to test 1.2405 levels and might extend to 1.2339 before any new attempt to rise.

Expected trading range for today is between 1.2450 support and 1.2650 resistance.

The GBPUSD pair retested the previously breached resistance of the main bearish channel and kept its stability above it, to rebound bullishly and settles above 1.2550, noticing that stochastic provides clear positive signals on the four hours' time frame, while the EMA50 keeps pushing the price from below.

Therefore, these factors encourage us to continue suggesting the bullish trend in the upcoming sessions, which its next main target located at 1.2720, while its continuation conditions holding above 1.2500.

Expected trading range for today is between 1.2500 support and 1.2720 resistance.